Isis Jumps On Cardiovascular Drug Data

By Teresa Rivas

Shares of Isis Pharmaceuticals (ISIS) were soaring more than 20% on Monday, following the company’s presentation of Phase II data at the American Diabetes Association Scientific Sessions.

Over the weekend, Isis presented data from its studies of ISIS-APOCIII(Rx), which showed that patients treated with the drug experienced “an 88 percent reduction in apolipoprotein C-III, a 72% reduction in triglyceride levels, a 40 percent increase in high-density lipoprotein cholesterol, the ‘good’ cholesterol, and improvements in other atherogenic lipid parameters.”

The protein component apoC-III and triglycerides are both risk factors for cardiovascular disease.

Needham’s Chad Messer reiterated his Buy rating on the stock following the news, noting that it was impressive that the drug improved measures of glucose control and insulin sensitivity in diabetics, and calling ISIS-APOCIII(Rx) “potentially one of the largest of many drivers for Isis shares.” He applauded the drug’s consistent effects in the study after just 12 weeks of treatment and a lack of adverse effects.

Messer expects further data in the coming months. The company plans to continue with trials for the drug in the next year, before seeking a commercial partner.

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